Resales
You may not understand the true power of words until you"ve tried to sell a home.
[Note: To follow is an excerpt of an interview with Mike Klein from TheBuildingMonitor.com. To listen to, or download the show archive MP3, go to www.IncomePropertyInvestmentTalk.com/TheBuildingMonitor.]
Chandler, Arizona is one of Phoenix"s hottest suburbs due to its convenient location and still-affordable home prices, which is creating a boom in the $300,000 range, say local Realtors.
The U.S. Virgin Islands are experiencing a real estate boom, report local Realtors, due largely to still-reasonable prices.
One of California"s largest master-planned communities, Mission Viejo offers a lush lakeside lifestyle, say local Realtors.
Georgetown is Washington D.C."s small town centered around Georgetown University, where a vibrant culture is causing housing prices to soar.
Low new-home inventory and low interest rates are combining to help ease Seattle"s buyer"s market into a seller"s market, say local Realtors.
Minneapolis, Minnesota Realtors say the city is one of the best in the country, which means spring selling is likely to heat up like it does every year when the snows start to thaw.
Home sales and prices are strong in the five townships that make up West Chester, an area of Chester County, Pennsylvania, say local Realtors.
Between retirement homes, getaway homes, air base housing and working family homes, Whidbey Island, Washington offers diversity along with its beautiful scenery.
Areas such as Wrightsville Beach, Kure Beach and Figure Eight Island, only hours from Raleigh and Greensboro and minutes from Wilmington, North Carolina are experiencing record sales, says a local Realtor.
While not a large market, the Casper, Wyoming, real estate marketplace has skyrocketed in 2008. Pending home sales over the last few months (which is a sign of future business) have shot up dramatically month after month each month in 2008 to as much as 1,000 percent in January when 56 homes went under contract. Last January only 5 homes went under contract in the same market.
Like other areas of the country, Milwaukee recently had a boom in real estate values. Although multiple offers and over asking prices are still happening in many areas, many buyers are now finding that they have more time to contemplate their purchase, say local Realtors.
Realtors in Las Vegas area communities such as Red Rock Country Club, Rhodes Ranch, and Spanish Trails are reporting brisk sales.
Grand Rapids, Michigan is a friendly community offering the warmth of a small town with the employment and cultural opportunities of a big city, says Realtor Bobbe Horton, "only 30 minutes to swimming in Lake Michigan in the summer, or skiing down the hills of Grand Rapids in the winter. Take your pick of seasons and activities."
In a real estate world of turbulent sales data, when a market presents itself as stable and growing, that"s something to talk about. San Angelo, Texas, with nearly 85,000 residents, is one of those markets.
The dot-com meltdown hit the Atlanta housing market hard, but low interest rates have kept buyers interested, creating the opportunity for compromise, say local Realtors.
Charlotte, North Carolina is the hub for several counties, which is keeping real estate sales brisk for fall, say local Realtors.
While the volume in sales is about the same as last year, San Juan Islands Realtors report rising home prices.
One of the most famous residential names in the world is Beverly Hills, a wealthy star-studded section of Los Angeles, California.
Irondequoit is a well-established, closely-knit community, say local Realtors, with plenty to offer residents.
With the latest reports suggesting that one out of 20 technology jobs will be shipped overseas by 2004, technology hub Austin, Texas has seen its share of tech-bubble job loss and foreclosures, leading Austin Realtors to differ on the advisability of buying a HUD home.
Continuing low interest rates coupled with spectacular scenery is making the Chattanooga, Tennessee market popular with homebuyers.
Local Realtors say that the "Venice of America" is attracting people from all walks of life. Should you consider Fort Lauderdale for your summer or retirement home?
Tampa Bay Realtors say the area offers affordable homes, lower taxes, a strong job market, easy commutes, great weather, and beaches. What more could buyers want?
With gorgeous, serene mountain views, the Shenandoah Valley in Virginia offers small-town charm with access to major cities and cultural amenities.
Ranked by AAA as tenth among America"s favorite beaches, Naples, Florida offers upscale vacation and retirement homes. Now"s the time, say local Realtors, before interest rates head back up.
Ocala is situated in the midst of one of the largest horse breeding and training areas in the world, but local Realtors say there is something for everyone.
North Las Vegas is experiencing rapid growth due to more favorable pricing on new homes, but Realtors report prices are also rising rapidly.
There was a time when you couldn"t give a condominium away in the land-rich Dallas, Texas area. But traffic congestion (bad), the revitalization of downtown (good) and other factors have contributed to a loft, townhome and condominium-friendly housing environment.
Toronto is a clean, safe, cosmopolitan city with a wonderful network of parks, recreational, and cultural facilities, say local Realtors, and it is Canada"s most populated city. Home sales are still down from last year, but picking up steam from early spring.
Like many other large cities, Minneapolis, Minnesota has swung from a seller"s to a buyer"s market, but local Realtors believe that it"s a great time to buy in a city that they say consistently ranks as one of the best places in the U.S. to live.
Founded in 1719 and incorporated in 1854, San Bernardino lies 59 miles east of Los Angeles, 110 miles northeast of San Diego and 469 miles southeast of the San Francisco Bay Area, making it a beautifully situated city close to beaches, deserts and mountain resorts, says local Realtor Victor Bishara. "Ontario International Airport, a short 20 minute drive west on the I-10 freeway, serves the San Bernardino area with all the major airlines offering daily flights to and from metropolitan cities throughout the country. San Bernardino is also easily accessible via major freeways in Southern California."
North of San Diego and along the Pacific coast, the area known as Carlsbad offers high-tech jobs for young families and a beachcomber lifestyle for retirees, say local Realtors.
Only a quick commute to Ann Arbor, Michigan, Jackson is in a buyer"s market and that is one reason why it offers more for the money, say local Realtors.
North Shore communities including Lake Forest, Lake Bluff and Winnetka offer Lake Michigan lifestyles close to the city amenities of Chicago.
Low mortgage rates, strong demand from immigrants, empty-nesters, and consumers, seeking an investment alternative to Wall Street, pushed sales of single family homes to their third highest level in state history last year, says Realtor Natasha Carter, of the Pepperell, Townsend and Dunstable communities.
Home prices are continuing to rise due to less buildable land and other factors, but, say Cape Cod, Massachusetts Realtors, overpricing by sellers is causing home sales to fall through as banks use more caution in loaning money to buyers.
Local Realtors say historical Howard County, located along the Baltimore-Washington, D.C. corridor, offers enough amenities that real estate sales have continued strongly even during winter snows and freezes.
The hot market in Redmond, Washington is starting to slightly cool, but local Realtors report that prices are still rising against record low interest rates.
According to local Realtors, Portland, Oregon offers a mild climate with less rainfall than Houston or Atlanta or Baltimore, and plenty of things to do, making it an attractive relocation destination.
Enjoy Mother Nature"s wilderness playground near the Idaho border of Montana where towns like Darby, Hamilton and Missoula are showing rising homebuyer interest.
The towns of Sudbury, Hudson and Wayland offer proximity to Boston, Massachusetts along with their smaller town versions of America"s colonial past.
Local Realtors say older as well new homes are selling in Easton, Connecticut where eighteenth century beauty and seclusion meets new construction and developments.
Not many places can boast the town camaradie with December holiday parties and Halloween events that Saddle River, New Jersey can, says a local Realtor.
"Boulder is ranked amoung the best places to live by numerous publications," says Realtor/attorney Susan Soklin. "It is expected that Boulder County"s population will increase by 15 percent with a significant increase in the age 60+ group. Yet, Boulder County and its residents remain ever youthful and fit due to a very active lifestyle. In the winter, we ski at Eldora ski area, less than 30 minutes from Boulder, in the spring, we run the Boulder Bolder, and in the summer, we hike and camp in the mountains. Come to Boulder County to learn and play."
Located between Beverly Hills and the main area of Hollywood, West Hollywood is close to the bustle of shops along the famous Melrose Ave and home to some of the finest restaurants in the city, says Realtor Laura Zajdman.
The San Jose real estate market is slowing down from its feverish pace earlier in the year, with inventories rising and prices turning soft.
Las Vegas and its master-planned communities and surrounding areas continues to enjoy home appreciation and brisk sales.
From walking horse farmland to mountain views, Tennessee towns offer beautiful scenery along with job and homebuying opportunities for residents and investors, say local Realtors.
The Huntsville-Madison area of Alabama is enjoying growth thanks to new neighborhoods opening in the area, not to mention a few desirable golf courses. On the other hand, sellers of existing homes are being challenged to make their homes more competitive.
Great Falls is rural in atmosphere, a perfect antidote to a bustling day at the office. That"s why many Washington D.C. commuters find this to be a favorite Virginia town to call home.
Hit hard by the "tech wreck" that began in 2000, Austin, Texas has had over 17,000 layoffs from technology companies alone. This has flooded the market with homes, lowering prices and increasing choice for buyers. But local Realtors maintain that the same attractions and conditions that brought tech companies to Austin will help turn the housing slump around.
Communities such Lake Geneva are still attracting commuters just as they did when wealthy Victorian Chicagoans escaped to their summer homes there during the great Chicago Fire. The area still boasts magnificent Gilded Age mansions, and many more practical homes for the commuters of today.
San Clemente, California is a South Orange County beach town located about halfway between Los Angeles and San Diego. Its hilly terrain gives many residents ocean views, which is only one reason why home prices are on the rise.
Despite its picture-postcard beauty, Colorado Springs has reversed its recent sellers" market. As more homes are entering the marketplace, prices are coming down, offering bargains to buyers in many price ranges.
Located along the Southern Outer Banks of North Carolina, the "Crystal Coast" is 65 miles of beaches that attract visitors and commercial interests year-round. Morehead City, on the Crystal Coast, was developed by North Carolina"s former governor John Motley Morehead in about 1857, as a great commercial city.
"Can you recommend any exit strategies for my real estate investor friend who has too much inventory now and not enough funds to cover his mortgages?" asks a reader from somewhere in cyberspace.
The real estate marketplace has undergone dramatic change in recent months. The exuberant seller"s market of the past year has transitioned into a more moderate buyer"s market, leaving in its wake an expected $1 trillion of adjustable rate mortgage (ARM) loans that will need to be refinanced in 2007. As higher home prices made home ownership more difficult for most buyers, especially those entering the market as first-time homebuyers, lenders introduced new adjustable loan options to help buyers qualify. The backlash, however, is that many buyers have gotten in over their heads struggling to maintain homes they cannot afford.
The communities of Grapevine, Colleyville and Flower Mound are among the suburbs that are convenient and desirable places to live and work near the Dallas/Fort Worth International Airport. Situated northeast of Fort Worth and northwest of Dallas, these communities have the best of all worlds - fine schools, easy access to major employers as well as the cultural centers of Dallas and Fort Worth, access to beautiful Lake Grapevine, and many new or newer homes.
Taos and Santa Fe are two are the most visited destinations in the U.S. desert Southwest. From artists" colonies to architectural digs, the communities offer education, entertainment, and relaxation, along with celebration of New Mexico Indian culture and artifacts. And there"s great snow-skiing, too.
Occupied by native Americans, then discovered by the Spanish in the 1500s and settled by the French in the 1700s, Alabama has a rich multi-racial history highlighted by the Civil War (Montgomery was the first capital of the Confederacy,) the training of the "Tuskegee Airmen" of WWII, and racial protests throughout the mid-20th century, launched by the Rosa Parks" Montgomery bus incident in 1955.
From famed showman "Buffalo Bill" Cody, to writer Willa Cather, to fiery politician/orator William Jennings Bryan, Nebraska is the land of pioneers. Plenty of hunting and fishing have attracted visitors to the state for generations, giving it a rich history populated by native Americans, Mormon settlers, explorers such as Lewis and Clark, cowboys, and railroad speculators.
Home prices are anything but cool in and around Anchorage, Alaska where Realtors report a brisk sellers" market, quick resales for older homes and a demand for new home construction.
If you are a surfer, Mammoth, California is the wrong vacation home spot for you. But, if you love crisp mountain air and clean sparkling lakes, you"ll be in heaven.
Did you buy Underwriters Laboratories of Canada-approved smoke alarms to
Promising to never again be caught with its pants down, the 802,000-member National Association of Realtors has created a regulatory and industry relations division to lobby federal regulators and other housing-related organizations.
The Republican Platform contains a strong statement in support of homeownership, including an endorsement of the mortgage interest deduction. It also supports policies to encourage affordable housing and homeownership for low-income American families, and promotes policies to protect Internet data, including real estate brokers" listings, from piracy.
The explosion in Internet technology and increasing globalization throughout the business sector are causing vast changes in the commercial real estate industry. As a commercial Realtor, I"m very excited about a new alliance - the Realtors Commercial Alliance - that will help provide a framework for collective leadership in developing a common, unified voice for the commercial real estate industry.
Everything is coming up roses in the nation"s housing market this spring.
According to no less an authority than an editorial in The Washington Post, "not only have the 6 percent commissions earned by purveyors of real estate begun to seem outlandish in an era of exponential growth in housing prices, there is evidence, nationally, of local real estate agents trying to preserve their high fees by preventing or hampering online and discount competitors." "(Electronic Competition", May 20, 2005)
Florida will pass New York as the nation"s third most populous state by 2011, according to the latest government projections.
Portable sleeping quarters for $10, weather- and wind-resistant homes for $75 and $3,000 water proof shelters that can withstand hurricanes and earthquakes are revealed in the unique efforts of college students to build both prototypical shelters and real homes for the needy.
Baby boomers aren"t moving down to smaller homes and they aren"t moving out to retirement homes, likely because their current homes are sufficient or they have the option to move into another home they own.
Single-family home builders continued to slow the pace of new construction in June, according to the latest data released by the U.S. Commerce Department today.
Over the Fourth of July weekend, Janet Houde, an independent real estate broker in Silicon Valley, traveled east to the Smoky Mountains in North Carolina to buy land in a new development where log homes will be among the rustic-styled houses required in the community.
When"s the last time you checked out your credit scores? A lot of us don"t think much about our credit until it"s time to purchase a home and then it may be too late. Avoiding these five common financial fiascos can save you money and headaches.
Two of the biggest players in the mortgage market -- Bank of America and Fannie Mae -- are teaming up to make home buying easier for teachers, police officers, firefighters, nurses, hospital workers and other community service professionals.
Waiting for higher interest rates to depress prices may not be your best home-buying strategy.
Mold claims can be very costly. Property damage claims relating to mold have, in a few cases, exceeded one million dollars. And personal injury claims can be costly as well. In response to this, corporate America has been busy looking for ways to escape mold related liability.
Certified financial planners, financial advisers and the like say home buying isn"t a solitary means to an end, but an integral part of a household"s or family"s overall financial needs, planning and goals.
Two of the country"s biggest private mortgage insurers are yanking the plug on a popular way to buy or refinance a home without disclosing virtually anything to the lender -- so-called NINA loans.
The spring and summer months are traditionally the busiest times of year for the residential real estate market. Weather is more cooperative and many families like to move while the kids are on their summer break.
If your family is growing, you"re earning more money than you were five years ago, you want to live in a more desirable neighborhood, or you want a larger or better-appointed house, you might be considering selling your house and "moving up."
Question: We are purchasing a newly created condominium unit in an upscale project. When the developer presented us with the sales contract, there was a document entitled "Repurchase Addendum." As best as I can understand the legalize, it states that should we sell or rent the unit within one year after going to settlement, we must give the developer the right to buy back the unit. Although the developer will pay all closing and recording costs, the repurchase price is the same price that we will pay for the unit. Is this a legal document?
Deferred Maintenance vs. Subject To. Live it, love it, learn it. These terms are sometimes bandied about without much thought when getting a property appraised. But knowing the difference between the two and how it can make or break your deal may be your biggest concern when reading an appraisal.
If you"re close to buying a home in the coming year, then you"ll want to
SAN FRANCISCO, CA -- If you are looking for a vacation town flush with affordable second homes with double digit appreciation potential stop in South Carolina first.
As an increasing number of Americans are snatching up new homes at record
Can you afford to buy a home? The first person you’ll want to talk with about your qualification will obviously be a lender or real estate agent. Once you find out your buying power, then you need to calculate what new expenses you’ll have once you move out of the apartment and into your first home.
Question: I’m developing a business plan to purchase real estate as an investment. This will be primarily single-family homes that will either be rehabilitated, flipped or lease optioned. I have been in contact with a Realtor who wants me to sign an exclusive buyer’s agreement. Is there a particular advantage/disadvantage in limiting myself to one Realtor?
Q: We recently entered into a contract to buy our first home. Our contract contained two contingencies: 7 days in which to obtain a satisfactory inspection of the house, and 30 days to obtain financing. We completed the inspection and removed the first contingency. However, there were a couple of blemishes on our credit record of which we were not aware, and now we have been rejected for a loan. However, we did not count the days carefully and our rejection came after the 30 days contingency period was over.
Real estate has become the "psychological equivalent of gold" to investors flocking to a tangible asset to find shelter from the economic storm.
While real estate markets are cyclical, features a potential home buyer looks for in her home almost always seems to start in the bathroom, according to the National Association of REALTORS" (NAR) annual "Cost vs. Value Report," published each year in conjunction with Remodeling magazine. In fact, in NAR"s 2007 report, it showed an upscale bathroom remodel recouped 93.2 percent of the costs and a bathroom addition, midrange stood at 86.4 percent and an upscale remodel 85.8 percent.
Lancaster, CA is tops when it comes to the number of people putting down stakes versus those pulling them up, but Atlanta, GA is the nation"s top go-to town for households moving more than 50 miles, according to two annual U-Haul International, Inc. reports released last week.
Escrow has closed, the title is in your name, and the hassle of moving is finally over. While you may feel like the homebuying process is behind you, it"s not. Now comes the onslaught of mailers, solicitations, and tempting offers geared toward new homeowners, who are typically trying to rebuild their finances.
The age and condition of windows should be part of any home-buying decision.
A housing boom is coming this decade and it"s caught the attention of real estate experts who have advice to offer consumers pondering what to make of it.
Q: We recently signed a contract to purchase a house, and thought we were smart enough to insist (over the real estate broker’s objections) on having the contract contingent on our obtaining – at our expense – a satisfactory home inspection. We selected the home inspector, and paid for the inspection.
Question: We recently purchased a house in Virginia, and believe that we paid a lot of unnecessary – and possibly duplicative – fees when we went to settlement. The settlement attorney admitted that many of the items were called “junk” or “garbage” fees in the industry, but since they were standard and customary, we had to pay them. Enclosed is our settlement statement; which fees can we avoid when we next go to closing?
Home equity to burn, favorable tax laws, and record-low mortgage rates are all converging at an opportune time to make buying your vacation home a dream come true.
Silicon Valley"s housing costs are as low as they"ve been in more than a year and near record low mortgage rates are helping boost affordability.
After six months in your new house, a nail has popped out of the drywall in the family room.
Getting help to spruce up the inside of your home is as close as the phone, mouse or remote control.
WASHINGTON -- The ownership rate among African Americans lags far behind that of other ethnic groups. But the Congressional Black Caucus Foundation aims to correct that with a major new home ownership initiative called WOW.
Being contrary can help maximize your home buying efforts. Not the stubborn kind of contrary, but the kind that positions you to purchase outside of the prime home buying time.
Countrywide Uncovers the Value of Paring Down Wedding Costs to Purchase First Home Earlier
Which is the best home buying site on the Internet? According to the latest independent research survey performed by Gomez.com, 15 top real estate sites were ranked for excellence, but not always in the order consumers or the industry might guess.
Peter G. Miller
Your title insurance policy will list certain exceptions that will be
Oftentimes, Americans get so entrenched in the way we conduct business and
It"s a question every house-hunter asks when it looks as
There are some things that don"t count, when you"re trying
Once upon a time, when pork chops were a nickel apiece and
Even in areas where I was told no one uses a lawyer for real
If you"re hunting for a bargain in a re-sale home, take
If you are buying a home with an FHA loan and were able to borrow well over
Peter G. Miller
When you borrow the money to buy a home from a lender, part of the closing
What can a relocating employee expect in terms of assistance when he or she
Seeking more affordable housing, fewer upkeep demands and a closer-knit community, a record 42 million home owners live in some form of cooperative housing development instead of single-family housing.
About 50 percent of new homes in metropolitan areas are developed in a planned community format. This means that homeowners share ownership of common land and amenities like swimming pools, tennis courts, nature trails, and playgrounds that they might not be able to afford otherwise. All home owners automatically become members of and pay assessments to the community association, which protects and manages common property and enforces association covenants. A community association operates as a government, a community, and a business, making it a truly specialized type of organization.
As Americans add on to their houses in increasing numbers, many are looking
Try to make up for rising home heating oil prices by investing in commodity futures that promise to warm up your portfolio and you could lose your flannel shirt and suffer an especially frosty winter.
Since the terrorist attacks on the World Trade Center and the Pentagon more than a year ago, home-security firms nationwide have been reporting a surge in interest in alarm systems.
If you"re in the market to buy a home, don"t overlook a money saver and
Not everyone wants to talk about toilets, but the low-flow variety that are now the nation’s standard tend to launch a lot of conversations.